Content

This unit aims to give students a general introduction into the property market and the role property plays in a today’s economy. It introduces the concept of real property and improvements to land; highest and best use, property and the economy; a broad overview of property markets and sub-markets; an introduction to investment, yield and the time value of money; stages of property development and the stakeholders; urban economics and geography. On completion of Introduction to Property students should be able to:

Place property in the context of the built environment, urban planning, the investment environment, design and construction.

Appreciate the concept of real property & improvements on land.

Gain a broad understanding of property markets and sub-markets.

Be aware of the broad legal and economic aspects of property valuation.

Appreciate the basic concepts of investment, yield and the time value of money including the essentials of basic financial mathematics.

Recognise the importance of urban economics and geography in the growth of cities and urban areas.